Maple Rock Capital Partners Inc. Grows Stock Holdings in Turning Point Brands, Inc. $TPB

Maple Rock Capital Partners Inc. lifted its stake in Turning Point Brands, Inc. (NYSE:TPB) by 57.5% during the second quarter, HoldingsChannel.com reports. The firm owned 686,800 shares of the company’s stock after purchasing an additional 250,800 shares during the quarter. Turning Point Brands makes up about 1.2% of Maple Rock Capital Partners Inc.’s portfolio, making the stock its 26th largest holding. Maple Rock Capital Partners Inc.’s holdings in Turning Point Brands were worth $58,248,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Covestor Ltd increased its position in Turning Point Brands by 16.3% during the 4th quarter. Covestor Ltd now owns 663 shares of the company’s stock valued at $72,000 after buying an additional 93 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in Turning Point Brands by 5.5% in the fourth quarter. Osaic Holdings Inc. now owns 1,888 shares of the company’s stock worth $205,000 after acquiring an additional 98 shares in the last quarter. CWM LLC grew its stake in shares of Turning Point Brands by 6.2% in the fourth quarter. CWM LLC now owns 2,706 shares of the company’s stock worth $293,000 after acquiring an additional 157 shares during the last quarter. Boston Partners grew its stake in shares of Turning Point Brands by 1.5% in the third quarter. Boston Partners now owns 13,712 shares of the company’s stock worth $1,356,000 after acquiring an additional 206 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Turning Point Brands by 1.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 23,082 shares of the company’s stock valued at $2,502,000 after acquiring an additional 243 shares in the last quarter. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Turning Point Brands Trading Down 3.5%

Shares of NYSE:TPB opened at $80.99 on Tuesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 5.67 and a quick ratio of 4.16. Turning Point Brands, Inc. has a 1 year low of $65.80 and a 1 year high of $146.90. The company has a market cap of $1.57 billion, a P/E ratio of 34.76 and a beta of 0.92. The stock’s fifty day moving average price is $83.52 and its 200-day moving average price is $89.06.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.12 by $0.11. Turning Point Brands had a return on equity of 11.35% and a net margin of 8.78%.The company had revenue of $142.96 million during the quarter, compared to the consensus estimate of $129.56 million. During the same period last year, the company earned $0.98 EPS. Turning Point Brands’s revenue for the quarter was up 22.6% on a year-over-year basis. Sell-side analysts expect that Turning Point Brands, Inc. will post 1.23 earnings per share for the current year.

Turning Point Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, September 18th. Turning Point Brands’s dividend payout ratio (DPR) is presently 13.73%.

Analyst Ratings Changes

Several research firms have recently issued reports on TPB. BTIG Research reaffirmed a “buy” rating on shares of Turning Point Brands in a research report on Monday, August 10th. Needham & Company LLC raised shares of Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price objective on the stock in a research report on Friday, May 8th. Wall Street Zen upgraded shares of Turning Point Brands from a “strong sell” rating to a “sell” rating in a research note on Monday, August 10th. Compass Point set a $116.00 target price on shares of Turning Point Brands in a report on Monday, August 10th. Finally, Weiss Ratings downgraded shares of Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $115.67.

Turning Point Brands Company Profile

Turning Point Brands, Inc (NYSE: TPB) is a U.S.-based consumer products company focused on the manufacture, marketing and distribution of smokeless tobacco, vaping and cigar products. Headquartered in Old Hickory, Tennessee, the company serves retail outlets across all 50 states through a direct-store-delivery network and select third-party distributors. Turning Point Brands operates two reporting segments—Smokeless Products and Cigar—and leverages its logistics capabilities to offer a broad portfolio of brands and SKUs.

In its Smokeless Products segment, Turning Point Brands produces moist smokeless tobacco under leading brand names such as Grizzly, Kodiak and Stoker’s.